Ok, Spigen finally got it right.
This is the BEST case I have ever used for the iPhone 5. And I am one picky/meticulous SOB.
Pros:
1. Fit/finish/quality. Excellent. The metal buttons are awesome. Everything has a matte finish and fingerprints disappear after you touch it. No smudges/scratches, etc. The back is very much like the Belkin Sheer Grip. Works with a skin (I am using a digiskin metallic series with edge protection). It is tight, but fits.
No floppy edges, everything stays in place. Great secure fit.
2. Color. The slate is virtually identical to the iphone's original finish.
3. Everything. This IS the perfect case.
*Install tip: You can separate the plastic perimeter from the silicone/TPU liner. If you have a skin on, separate the two, and put the liner on first to prevent it from lifting your skin.
Previous cases:
Belkin Grip Sheer? (I loved this, but the button presses sucked. This case solved that problem).
Speck Candyshell (Good in every way, but scratches easily and breaks after time)
Caudabe Perimeter (Great, but didn't fit with my skin. Too thick)
Spigen neo hybrid slim bumper. Good, but kept slipping off the phone.
Spigen Slim Armour: Ok, but the "metal" (really plastic) plate didn't sit flush, and was kind of bulky.
Spigen Bounce: Cheap rebranded ebay crap.
I ended up buying ~11 of these cases, and am thinking of keeping two (one to use, and one for a backup in case). PM me if you are interested in the other 9. Price will be pretty close to Amazons.